Dycom Industries, Inc. (NYSE:DY) Receives Consensus Rating of “Buy” from Analysts

Shares of Dycom Industries, Inc. (NYSE:DY) have received a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $208.88.

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Tuesday. KeyCorp lifted their target price on shares of Dycom Industries from $227.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, DA Davidson reissued a “buy” rating and issued a $210.00 price target on shares of Dycom Industries in a research report on Tuesday, November 19th.

Dycom Industries Trading Up 2.9 %

Shares of DY opened at $190.96 on Thursday. The stock’s 50-day moving average price is $182.26 and its 200 day moving average price is $183.84. The company has a quick ratio of 2.93, a current ratio of 3.12 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.61 and a beta of 1.42. Dycom Industries has a 12-month low of $112.17 and a 12-month high of $207.20.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $175.08, for a total transaction of $507,732.00. Following the sale, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. This represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer M. Fritzsche sold 430 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total transaction of $74,437.30. Following the completion of the sale, the director now owns 8,873 shares of the company’s stock, valued at $1,536,005.03. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.28% of the company’s stock.

Institutional Trading of Dycom Industries

Several hedge funds have recently modified their holdings of DY. Smartleaf Asset Management LLC raised its position in Dycom Industries by 209.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 390 shares of the construction company’s stock worth $68,000 after purchasing an additional 264 shares during the last quarter. Williamson Legacy Group LLC increased its stake in shares of Dycom Industries by 4.6% in the 4th quarter. Williamson Legacy Group LLC now owns 4,463 shares of the construction company’s stock valued at $777,000 after buying an additional 196 shares during the period. Versor Investments LP bought a new stake in shares of Dycom Industries during the fourth quarter worth $235,000. Oppenheimer & Co. Inc. lifted its stake in shares of Dycom Industries by 7.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 7,831 shares of the construction company’s stock valued at $1,363,000 after acquiring an additional 561 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Dycom Industries by 9.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 15,648 shares of the construction company’s stock valued at $2,724,000 after acquiring an additional 1,299 shares during the period. 98.33% of the stock is owned by institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.